TEXAS SNAPSHOT, FEBRUARY 2010

Weslaco

TREB: What major trends are affecting Weslaco’s commercial real estate market?

Gonzalez: The market is underserved and getting noticed by developers. The Rio Grande Valley as a whole is attractive to commercial real estate developers. Unemployment is expected to continue at the same level in 2010. However, we have a young population and add workers to the economy every year.

TREB: How would you characterize recent leasing activity? What about investment activity? What recent transactions (sales or leases) have impacted your market?

Gonzalez: SDI had a major commercial development anchored by JC Penney and Lowe’s Home Improvement Warehouse, which opened in October 2009, leading to other key leasing opportunities in 2010.

TREB: What is the state of the development market? 

Gonzalez: Weslaco is the hotspot right now. Investors, developers and distributors are all looking at using the strategic location in the Mid-Valley to grow, build and do business in the region.

TREB: What are your thoughts for the New Year?

Gonzalez: Weslaco is planning the best growth year ever in 2010. As developers see that logistics of the geographic center just make sense, we are forecasting positive growth in the region.

— Hernan Gonzalez is the executive director of the Weslaco Economic & Development Corp. in Weslaco, Texas.

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